Tanzania to Get $40 Million Payment From Barrick Gold on Oct. 13

Tanzania will receive about $40 million from Barrick Gold Corp. on Oct. 13 as part of a payment settlement with the company.

President John Magufuli will oversee the event, the ruling CCM party said in a statement. It’s part of the $300 million settlement between Tanzania and Barrick Gold to end a tax dispute. Barrick Gold paid the first installment of $100 million in May.

Read more: Barrick Gold Paid First Tranche of $300m Tanzania Settlement

©2020 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.